Enrollment For Employer-Based IRAs
You’re a B2B fintech startup noticing a major opportunity for a new product line. Legislative and industry trends show you potential but you have to move fast.
We need a concept piece to attract investors and beta clients.
How might we create a product vision that will generate buy-in from investors and potential clients?
Table of Contents
NOTE: All logos and branding shown in these designs are placeholders. Any similarities to existing businesses, by name or design, are purely coincidental.
Outcomes
22 Million Series C
These designs were used in pitches which resulted in a 22+ million series C round (alongside the IRA accountholder portal). The designs visually grounded a major opportunity — legislative changes mandating retirement plans for small employers would increase the market for low-cost employer-based IRAs.
Sales and Client Relationship Resource
As the startup scaled its employer-based IRA offerings, it needed to generate buy-in with current and prospective payroll partners. These designs were successful in generating interest from several major payroll companies.
Documentation of Legislative Details
My in-depth research into SIMPLE, SEP, and Payroll Deduction IRAs grounded the designs in deep expertise for this subject matter. The UX writing created a living document that could educate internal stakeholders on the distinctions between different programs.
Design Process
The Design Process (Very tight timeframe, 3 weeks with all-nighters)
Collect initial requirements from the business.
Thoroughly research and document IRS rules and differentiations between SIMPLE, SEP, and Payroll Deduction IRAs.
Conduct a brief competitive analysis of similar enrollment experiences for employers creating retirement plans.
Create a whiteboard onboarding flow chart and a concept for an advice quiz.
Present the proof-of-concept designs to the C-Suite, making edits before the work is presented in sales calls and in investor pitches.
Concept Designs
Start of Enrollment
At the start of enrollment, I included content text on new legislative considerations and laid out the decisions required for enrollment.
Initial Screen of Enrollment
Information on Legislative Changes
I designed a quiz to support informed decision-making on the retirement programs. Questions included topics such as company size, salary budget, hiring plans, and employee retention concerns.
Guidance Quiz
A Few of The Questions
Quiz Results
Quiz results provide crucial details on legislative rules employers will need to follow.
Details on Each Program Type
Employers can skip the quiz and go straight to selecting a program type. On this screen, graphics provide at-a-glance differentiators for each program type.
Selecting a Program
Employers receive feedback on the estimated program cost — enabling them to select a match that fits their budget.
Feedback on Program Costs
REFLECTION
Missions accomplished: These designs created visuals that supported leadership selling prospective clients and investors on this new product line. Considering a short time frame, these designs contain significant detail.
Room for improvement: There was limited time for review with developers. It’s never ideal to show designs to prospective clients and investors without a thorough technical review. Although we had a quick 1-hour review I would have liked more time. If I had proactively met with leadership in advance to discuss their pitch needs over the next 12 months, I could have budgeted more time for this project.